Occidental Petroleum's takeover of fellow US independent Anadarko was crucial in helping the company get through the pandemic and closer to its low-carbon vision, CEO Vicki Hollub said on Wednesday. The $38 billion acquisition in 2019 started paying off almost immediately as an oil price downturn hit the following year. It gave Oxy a stable, long-term oil and gas portfolio at a scale that allowed it to move forward aggressively with its carbon management strategy in the Permian Basin and beyond.
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